Prediction market platform Polymarket has removed a contract that allowed users to wager on whether any of the seven men accused of raping a Cornell University student in 2024 will face felony sex crime charges.
Launched on Sept. 30 and originally scheduled to close on Jan. 31, the market accumulated more than $450,000 in trading volume before it was taken down from the company’s international platform. Polymarket operates a U.S. exchange regulated by the U.S. Commodity Futures Trading Commission, which strictly prohibits trading related to activities that violate federal or state law.
A Polymarket spokesperson addressed the removal in a statement on Tuesday, noting the company’s intent to bring data-driven insight to significant questions. The representative stated that the market addressed whether the government would take action, a process deserving of scrutiny given the seriousness of the case. The spokesperson added that the platform listened to user feedback, stating they believe in the wisdom of crowds and decided to remove the market.
The existence of the wagering contract was first reported by Front Office Sports.
The controversy quickly drew criticism toward the platform’s high-profile celebrity endorsers and commercial partners. Philadelphia 76ers basketball star LeBron James holds an endorsement deal with Polymarket and recently appeared in a major commercial alongside athletes Derek Jeter, Eli Manning, and Sue Bird. Representatives for James, Jeter, Manning, and Bird were contacted for comment on Tuesday.
Additional figures appearing in the commercial, including director Spike Lee and actors Craig Robinson, John Leguizamo, and Alexandra Daddario, also faced inquiries. A spokesman for Spike Lee stated the director had no comment. Polymarket additionally maintains partnership agreements with major sports leagues, including the NHL, Major League Baseball, Major League Soccer, the UFC, and the ATP Tour, representatives from which were also reached for comment.
The underlying legal case stems from a lawsuit filed last month by a woman using the pseudonym Jane Doe. She alleged that seven fraternity members sexually assaulted or exploited her in October 2024 and contended that Cornell University mishandled her subsequent complaints. All seven accused men have denied the allegations, maintaining either that their interactions were consensual or that they had no involvement.
Online critics strongly condemned the prediction market as degrading and directed scrutiny at the platform’s famous brand ambassadors. An online petition specifically called out James, Manning, Daddario, and model Emily Ratajkowski, urging them and other celebrity endorsers to sever ties with the company.
Prediction markets allow participants to trade shares based on the outcomes of future events, with sports historically accounting for a substantial share of trading volume across various yes-or-no propositions. However, platform offerings have previously drawn scrutiny regarding sensitive or illicit topics. Earlier this year, a U.S. Army sergeant was indicted over wagers placed on the capture of Venezuelan President Nicolás Maduro. Additionally, reporting in April revealed that dozens of newly created accounts on Polymarket’s international platform placed substantial bets on a U.S.-Iran ceasefire shortly before its announcement, prompting concerns regarding potential insider trading.
Despite the removal of the rape charge contract, Polymarket maintained an active market on its international platform allowing customers to wager on whether Cornell President Michael Kotlikoff will leave office by Oct. 31, which had generated over $10,700 in trading volume.
